Banking

SunTrust Banks in Atlanta on Friday reported a slight increase in profit that could have been greater were it not for a surge in energy chargeoffs.

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Banc of California's second-quarter profits soared on stronger lending and credit quality. The $10.2 billion-asset company increased net income 66% from a year earlier to $26.5 million, it said in a news release Thursday.

Visa and PayPal have been at war for as long as PayPal has existed, and their recent cease-fire could allow both companies to overcome the barriers they have spent years building between the worlds of digital and in-store payments.

The Green Bay, Wis., company reported net income of $47 million in the second quarter, down about 1.5% from the same period last year. Associated's profitability was constrained by a $14 million provision for loan losses.

BNC Bancorp in High Point, N.C., plans to raise about $55 million through a common stock offering.

The bank is using software "robots" — 30 of them, according to its CEO — to cut costs and shift workers to more fulfilling work.

Profits rose by 9% at Capital One Financial during the second quarter thanks to strong growth in the firm's credit card and commercial banking businesses.

Visa Inc., the world's largest payments network, posted fiscal third-quarter profit that beat analysts' estimates as customer card spending accelerated. The company said it will buy back as much as $5 billion of its shares.

A progressive group is up in arms against Sen. Tim Kaine, D-Va., after the possible Democratic vice presidential nominee signed letters calling on regulators to tailor rules for community banks.

Visa Inc., the world’s largest payments network, posted fiscal third-quarter profit that beat analysts’ estimates as customer card spending accelerated. The company said it will buy back as much as $5 billion of its shares.

Regional banks like BB&T, Huntington Bancshares and Citizens Financial are growing through acquisition and targeted business-line initiatives, but they are having to contain spending simultaneously.

WASHINGTON — Two top Senate Democrats are calling on financial regulators to better examine the role of financial technology firms and how their activities interact with the existing regulatory structure.

North Carolina's second-biggest community bank agreed to sell itself at a rich premium, signaling that the state has become an attractive market for acquirers. Adding an out-of-state bank could also create opportunities for *locals* to poach business.

Of the 10 fintech startups that pitched their wares at startupbootcamp FinTech New York on Wednesday, half plan to sell their software to banks. Only a few vie to take on established players.

Boston Private Financial Holdings on Thursday reported a lower second- quarter profit amid broader declines in its wealth management business.

Bankers are taking the unusual step of asking the government for additional regulations — ones that can be used to block the Consumer Financial Protection Bureau from seeking more data from financial institutions.

N26, a Berlin startup that offers financial services directly to consumers, said Thursday it's received a German banking license that will let it offer a fuller range of products across Europe.

A certification process can provide participants in smart contracts with greater assurances they won't lose their money (see: the DAO). But in distributed systems, the true test of security comes when software is released into the wild.

One of the nation’s biggest banks and the so-called “everything store” have joined forces to extend loan discounts to students.